000 08389nam a2201513 4500
001 9780691232379
003 DE-B1597
005 20260416115148.0
006 m|||||o||d||||||||
007 cr || ||||||||
008 260303s2024 nju fo d z eng d
020 _a9780691232379
024 7 _a10.1515/9780691232379
_2doi
035 _a(DE-B1597)BR1301295
040 _aDE-B1597
_beng
_cDE-B1597
_erda
041 0 _aeng
044 _anju
_cUS-NJ
072 7 _aBUS
_x039000
_2bisacsh
072 7 _aBUS
_x023000
_2bisacsh
072 7 _aPOL
_x024000
_2bisacsh
072 7 _aBUS
_x027000
_2bisacsh
100 1 _aBolton, Patrick,
_eauthor.
_4aut
_4http://id.loc.gov/vocabulary/relators/aut
245 0 0 _aMoney Capital :
_bNew Monetary Principles for a More Prosperous Society /
_cPatrick Bolton, Haizhou Huang.
264 1 _aPrinceton, NJ
_bPrinceton University Press,
_c[2024]
264 4 _c©2024
300 _a1 online resource
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
505 0 0 _tFrontmatter --
_tcontents --
_tList of illustrations and tables --
_tPreface --
_t1 The Poverty of Monetarism --
_t2 The Capital Structure of Nations --
_t3 Money, Banking, and the Lender of Last Resort --
_t4 How Did China Finance Its Growth? --
_t5 The Coordination of Fiscal and Monetary Policy --
_t6 Money and Sovereignty --
_t7 Taking Stock --
_tAcknowledgments --
_tReferences --
_tIndex
506 0 _arestricted access
_uhttp://purl.org/coar/access_right/c_16ec
_fonline access with authorization
_2star
520 _aA novel perspective on monetary and fiscal policy that views money as the equity capital of a nationA conventional economic theory, monetarism, holds that inflation is a monetary phenomenon driven by changes in the supply of money. Yet recent experience—including the aftermath of the financial crisis of 2008 and the economic development of China—contradicts this basic prediction. In this book, leading economists Patrick Bolton and Haizhou Huang offer a novel perspective, viewing monetary economics through the lens of corporate finance. They propose a rich theory of money supply where money can be seen as the equity capital of a nation, playing a similar role as stocks for a company. This innovative framework integrates the real and monetary sides of the economy, with a banking sector and debt at its core.In the financial world, companies issue new shares only if it results in some kind of value creation; this is a basic principle of corporate finance that Bolton and Huang argue can be applied to monetary economics. When the government increases the money supply to finance positive net value investments—when it prints money to keep the economy going—it increases output, not inflation. This is evidenced by the strong growth in GDP and money in China over the last four decades, and in the United States during World War II. The effect of increasing money supply, they argue, depends on how money enters the system and what the money buys. The principles outlined by Bolton and Huang shed new light on a range of issues, including inflation, monetary and fiscal policy, central banking, money and growth, and the international monetary system.
538 _aMode of access: Internet via World Wide Web.
545 _aPatrick Bolton is professor of finance at Imperial College London and senior advisor to the Lazard Climate Center. Past president of the American Finance Association and a fellow of the Econometric Society, he is the coauthor of Contract Theory and The Green Swan: Central Banking and Financial Stability in the Age of Climate Change. Haizhou Huang Haizhou Huang is Special-Term Professor of Finance at PBoC School of Finance and Shanghai Advanced Institute of Finance and external member of the Monetary Policy Committee at the People's Bank of China (China's Central Bank). He is the author of The Global Financial System: Crises and Reforms and the coeditor of The Changing Fortunes of Central Banking.
546 _aIn English.
588 0 _aDescription based on online resource; title from PDF title page (publisher's Web site, viewed March 03 2026)
650 7 _aBUSINESS & ECONOMICS / Economics / Macroeconomics.
_2bisacsh
650 7 _aBUSINESS & ECONOMICS / Economic History.
_2bisacsh
650 7 _aPOLITICAL SCIENCE / Public Policy / Economic Policy.
_2bisacsh
650 7 _aBUSINESS & ECONOMICS / Finance / General.
_2bisacsh
653 0 _aMonetary
653 0 _aeconomics
653 0 _apolicy
653 0 _amoney
653 0 _abanking
653 0 _afiscal policy
653 0 _ainternational finance
653 0 _adevelopment economics
653 0 _afinance
653 0 _aMonetary Principles: For A New Prosperity
653 0 _aPatrick Bolton and Haizhou Huang
653 0 _aPrinceton University Press
653 0 _aPrinceton
653 0 _aEconomics
653 0 _agovernment spending and policy
653 0 _ainflation
653 0 _athe national debt
653 0 _athe coronavirus relief package
653 0 _amodern monetary theory
653 0 _aStudents and scholars in finance
653 0 _amacroeconomics
653 0 _apublic policy
653 0 _ainternational economics
653 0 _ainternational finance
653 0 _agovernment spending
653 0 _aBiden administration
653 0 _aFederal reserve
653 0 _aInterest rates
653 0 _aMonetary Theory
653 0 _aeffects of massive spending on the economy
653 0 _amonetarism and political deficit concerns
653 0 _aMonetary economics and policy
653 0 _amoney and banking
653 0 _afiscal policy
653 0 _ainternational finance
653 0 _adevelopment economics and finance
653 0 _aMonetary Principles: For A New Prosperity
653 0 _aPatrick Bolton and Haizhou Huang
653 0 _aMonetary
653 0 _aeconomics
653 0 _apolicy
653 0 _amoney
653 0 _abanking
653 0 _afiscal policy
653 0 _ainternational finance
653 0 _adevelopment economics
653 0 _afinance
653 0 _aMonetary Principles: For A New Prosperity
653 0 _aPatrick Bolton and Haizhou Huang
653 0 _aPrinceton University Press
653 0 _aPrinceton
653 0 _aEconomics
653 0 _agovernment spending and policy
653 0 _ainflation
653 0 _athe national debt
653 0 _athe coronavirus relief package
653 0 _amodern monetary theory
653 0 _aStudents and scholars in finance
653 0 _amacroeconomics
653 0 _apublic policy
653 0 _ainternational economics
653 0 _ainternational finance
653 0 _agovernment spending
653 0 _aBiden administration
653 0 _aFederal reserve
653 0 _aInterest rates
653 0 _aMonetary Theory
653 0 _aeffects of massive spending on the economy
653 0 _amonetarism and political deficit concerns
653 0 _aMonetary economics and policy
653 0 _amoney and banking
653 0 _afiscal policy
653 0 _ainternational finance
653 0 _adevelopment economics and finance
653 0 _aMonetary Principles: For A New Prosperity
653 0 _aPatrick Bolton and Haizhou Huang
700 1 _aHuang, Haizhou,
_eauthor.
_4aut
_4http://id.loc.gov/vocabulary/relators/aut
773 0 8 _iTitle is part of eBook package:
_dDe Gruyter
_tPrinceton University Press Complete eBook-Package 2024
_z9783110749755
_oZDB-23-9
773 0 8 _iTitle is part of eBook package:
_dDe Gruyter
_tEBOOK PACKAGE Business and Economics 2024
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_o978-3-11-151323-2 EBOOK PACKAGE Business and Economics 2024
773 0 8 _iTitle is part of eBook package:
_dDe Gruyter
_tEBOOK PACKAGE Business and Economics 2024 ENG
_z9783111513270
_o978-3-11-151327-0 EBOOK PACKAGE Business and Economics 2024 ENG
856 4 0 _uhttps://www.degruyterbrill.com/isbn/9780691232379
856 4 2 _3Cover
_uhttps://www.degruyterbrill.com/document/cover/isbn/9780691232379/original
912 _aZDB-23-9
_b2024
912 _a978-3-11-151323-2 EBOOK PACKAGE Business and Economics 2024
_b2024
912 _a978-3-11-151327-0 EBOOK PACKAGE Business and Economics 2024 ENG
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912 _aGBV-deGruyter-alles
942 _cE-BOOK
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